US Infravest Managers LP

Item 5: Fees and Compensation
USIV will receive a quarterly management fee of 1.25% the latest twelve calendar months EBITDA of
PhotoPass, subject to a floor and a cap. For any partial calendar quarters, the management fee will be pro-
rated.

Other Fees and Expenses

The Partnerships will bear expenses related to the operations of those Partnerships, including, without
limitation, costs related to tax preparation, audit, legal and investment diligence. These expenses are more
fully outlined in the limited partnership agreements for the Partnerships.

Placement agent fees are paid by each limited partner.

Neither USIV nor any of its supervised persons accepts compensation for the sale of securities or other
investment products at the current time.

Item 7: Types of Clients
As noted in Item 4, USIV provides portfolio management services to the Partnerships as described in the
Advisory Business section.